State Licensing and FHA Lending

Perhaps few things are more appealing about joining a branch organization than to be able to originate loans in multiple states. In reality, this is easier envisioned than implemented. As a result of the Federal SAFE Act every state must enact legislation that requires individual registration or licensing in order to make a loan. Additionally, RESPA changes that took effect in 2010 make it increasingly difficult to intelligently originate loans in multiple states. Even so, the idea of originating in multiple states is as practical now as ever as long as you are prepared to get licensed in those states and understand how to originate in them.

AMB originates primarily in the eastern US. We provide our services through retail commercial offices and virtual loan officers who report to a key branch or to AMB’s main office in Tampa. AMB only allows licensed loan officers to originate loans in a particular state. Please contact us if you need help in getting additional state licenses.

AMB’s Olympic Gold Lending policy is written to help you comply with all applicable regulations. In an effort to assure compliance AMB only allows loan officers who work at or report to a licensed branch for a particular state originate loans in that state. Since it is possible for a single employee to report to multiple branches, your only limitation is your ability to get licensed in the state that you want to originate loans for. In other words, with licensing you can originate in as many states as you want!

Alternatively, realizing that it doesn’t make sense for every loan originator to get licensed in every state, AMB’s Olympic Gold Lending policy allows you to receive a bonus for referring friends, relatives and business associates to one of AMB’s licensed key branches. The manager of each key branch will have a licensed employee originate the loan application, enter the loan into the branch log, allow a credit report to be pulled using the licensed branch address, pull an FHA case number (if needed) and process and close the loan.

Click here for a complete description of AMB’s Olympic Gold Lending and FHA Origination Policies.

Click here for a summary of AMB’s NMLS licensing and status. AMB is currently licensed in:

Florida Mortgage Lender – ML0700982. State regulatory web site
Georgia Mortgage Lender – 15600. State regulatory web site
Indiana Mortgage Broker – 1114. State regulatory web site and then filter for IN
Kansas Mortgage Company – MC.0001662. State regulatory web site and click I agree and search for America’s Mortgage Broker
Mississippi Mortgage Company – 1114. State regulatory web site and then filter for MS
New Jersey 0807100 – State regulatory web site
New York RMB207518 – State regulatory web site and search for The AMB Network
North Carolina B-112153 – State regulatory web site and search for America’s Mortgage Broker
South Carolina MB-0512400-0727500 – State regulatory web site and search for America’s Mortgage Broker
Tennessee 1893 – State regulatory web site and search for America’s Mortgage Broker
Virginia MC-2181 – State regulatory web site and search for America’s Mortgage Broker

FHA Case Number Assignment Request Form

Loan Officer Employee ID No:
Your E-mail Address:
Borrower Name:
LOS File No (or details to help identify loan):
Property State:
	Check if Tampa will Process this Loan

Investor:
Notes: (If NY, indicate branch you are using, for BOA use NY224)

By submitting this form I certify I have completed all of the information as required on the FHA Case Number Request form. I understand that should I omit the seller(s), listing agent, buying agent or title company I will be responsible for checking all parties in the transaction against the LDP and GSA lists. I also agree that my future commissions or reserves will be reduced by $25 for the service charge in having the case number assigned.

Please make sure to provide the correct Employee ID No for the loan officer originating the file. The e-mail address should be the e-mail address that is used to return the verification that the request has been received and that the request has been completed.

You may receive an error that says the confirmation page could not be found. This happens on occasion and we don’t know why. Please check your e-mail to see if you receive an automated reply verifying your request. This typically is pretty instantenous. If you don’t have verification within a couple of minutes you should resubmit your request.